See through texture Unity

Hi,
I have a RED cube , and I have put a texture on it which has holes in it, But when i Put that texture on the cube wholes show what is behind it not the Color of the Cube. My texture has transparency also .

Can some body help me how to get required look snapshot for requirements is below later I want to bring Transparency to red color to see the white border. Dont want to create border through shader.

 

@rahul5singh
Okay. Is the 3d model properly UV unwrapped?
Because sometimes when it's not, all sorts of strange texture problems occur.

 

Its Unity Primitive -Simple cube , I just Created Texture as per Requirement for wrapping around Simple Unity Cube

 

Is the texture a png image? If not, what format is the texture? And does it have alpha transparency on it?

 

Yes PNG image with Alpha trasparency